Market News & Headlines >> June Feedlot Placements Seen Down From Last Year
USDA is expected to peg June feedlot placements about 5% below a year earlier amid tightening supplies of feeder cattle and show the July 1 feedlot inventory was little changed from a year earlier when it releases its monthly Cattle-on-Feed report on Friday afternoon.
Pre-report trade estimates of June feedlot placements average 95.0% of a year earlier in a range from 89.2-99.5%. At the average of trade estimates, June placements would total about 1.586 million head, 83,000 head below a year earlier and would be the lowest for the month in six years.
Pre-report expectations for the June 1 feedlot inventory avg. 100.1% of a year earlier in a range from 98.9%-100.8%. At the average of trade estimates, the June 1 feedlot inventory would total 11.301 million head, just 6,000 head above a year earlier.
Pre-report estimates of June feedlot marketings avg. 101.9% of a year earlier in a range from 100.6%-103.0%. At the average of trade estimates, June marketings would total 2.060 million head, 39,000 head above a year earlier and would be the largest for the month in 11 years.